This policy change comes after a "small but growing" number of customers abused this generous satisfaction guarantee, L.L.Bean Executive Chairman Shawn Gorman said in a statement.

"Some view it as a lifetime product replacement program, expecting refunds for heavily worn products used over many years," the statement read. "Others seek refunds for products that have been purchased through third parties, such as at yard sales."

Over the past five years, the company has lost $250 million on returned items that are classified by the company as "destroy quality," L.L. Bean spokeswoman Carolyn Beem told the Associated Press.

The company is expecting backlash but promises to "continue to honor one of the best guarantees in retail."